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I need some help with calculating salary of a person(please read my full post)

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    Post I need some help with calculating salary of a person(please read my full post)

    I have the Date of Joining, Basic Salary and increment - of an employee
    I want to find out the exact salary she/he received on 1st January 2015
    DOJ - 31-05-1995 - Increment - 10% - Basic Pay - 20,000

    I know its easy to find out using the Auto fill feature of Microsoft Excel, but I need a formula to find out the amount without using the feature.

    The answer is following
    ₹ 20,000
    ₹ 22,000
    ₹ 24,200
    ₹ 26,620
    ₹ 29,282
    ₹ 32,210
    ₹ 35,431
    ₹ 38,974
    ₹ 42,872
    ₹ 47,159
    ₹ 51,875
    ₹ 57,062
    ₹ 62,769
    ₹ 69,045
    ₹ 75,950
    ₹ 83,545
    ₹ 91,899
    ₹ 101,089
    ₹ 111,198

    I need to find the last value (111,198) without dragging down, but - by using a formula. Please HELP!!!

  2. #2
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    Re: I need some help with calculating salary of a person(please read my full post)

    it's a compound interest problem,

    =20,000*(1+0.1)^18

    .1 is your yearly increase
    and 18 is no of years

  3. #3
    Forum Expert Pepe Le Mokko's Avatar
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    Re: I need some help with calculating salary of a person(please read my full post)

    Something like =20,000*1.1^ n where n is the number of years ? ( your example goes to 2013...)

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    Re: I need some help with calculating salary of a person(please read my full post)

    Thank you so much..

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    Re: I need some help with calculating salary of a person(please read my full post)

    Worked like a charm..

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